Question

1.1/7 POINTS PREVIOUS ANSWERS PODSTATS 10.6.051. MY NOTI A credit bureau analysis of undergraduate students' credit records found that the average number of credit cards in an undergraduate's wallet was 4.05. It was also reported that in a random sample of 132 undergraduates, the sample mean number of credit cards that the students sald they carried was 2.5. The sample standard deviation was not reported, but for purposes of this exerdse, suppose that it was 1.2. Is there convincing evidence that the mean number of credit cards that undergraduates report carrying is less than the credit bureau's figure of 4.057 (Use a 0.05. Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.) P-value - State your conclusion. Do not reject Ho. We have convinding evidence that the mean number of credit cards carried by undergraduates is less than the credit bureau's figure of 4.05. Reject Ho. We have convincing evidence that the mean number of credit cards carried by undergraduates is less than the credit bureau's figure of 4.05. Reject Ho. We do not have convincing evidence that the mean number of credit cards carried by undergraduates is less than the credit bureau's figure of 4.05. Do not reject Ho. We do not have convincing evidence that the mean number of credit cards carried by undergraduates is less than the credit bureau's figure of 4.05.

Answer 1

Test statistic,
t = (xbar - mu)/(s/sqrt(n))
t = (2.5 - 4.05)/(1.2/sqrt(132))
t = -14.84

P-value Approach
P-value = 0.000
As P-value < 0.05, reject the null hypothesis.